Hi Everyone,

In a shameless attempt to relieve myself of coming up with a ton of original writing, I am going go bombard you with charts today. Many people have asked about my favorite positions.

I have something like 160 positions now, so I'm going to try – – and this is tougher than it sounds – – to cull out 25 of those favorites and show them throughout the day in 5 chart chunks.

It's been a fantastic day so far – – I've been trading the /ES profitably right from the get-go Sunday at 3 p.m.; it's probably the first time I've ever generated cash while actually watching the Oscars. Gold is down. Bullish hopes are getting squished. My kinda day.

Anyway, I'm the hardest-working lazy man on the planet, so you'll see those charts real soon now.

I bet a lot of you enjoyed the Oscars last night. Man on a Wire was one of my favorite movies from last year, so I was pleased to see it take home Best Documentary. I was even more excited to discover that, after a lifetime of waiting, I am at last more physically appealing than Sophia Loren. It was a struggle, but by God, I got there.

The /ES, for me, remains the best view of the market, since it encompasses far more trading hours. I sort of feel sorry for my old self, since the $SPX is just a subset of this view. Looking at the daily chart, I think we've got good resistance just beneath 800 and, if that is busted, strong resistance at 840.50

It wouldn't surprised me if the Big Countertrend Rally started appearing on the sides of milk cartons. It just never seems to show up.

Let me first state that it seems a lot of folks thought I wrote the prior post. I didn't. I like what it said, but I didn't write it. It was – – as the title plainly states – – from a Slope reader.

Anyway.

I've been in touch with a gentleman who has a pretty amazing story. I'm not sure if I'll lay it all out. But here's a small taste:

The SEC had 25
lawyers, countless investigators, accountants, 90 depositions, hundreds of
thousands of subpoenaed documents, and 5 layers of management assigned to my
case from the Philadelphia, New York, and San Francisco offices prosecuting
this for eight years and three countries.  I went to trial in Federal
Court in 2005 and the judge dismissed the case without requiring me to place a
defense.  A first for the SEC I believe.

I then sued the SEC and they settled.  No one outside the SEC and I know
how massive and obscene this was as I never told my story.  As the SEC
paid me, I just shut up; but maybe I shouldn't have.


The reason I'm telling you this is that I believe that one important reason the
SEC failed so badly with Madoff et. al. was that they were busy chasing me.

Maybe I should write another book?